Friends I think the major support zone of Nifty in the coming week will be 5400.
5390 will be a very crucial support level for Nifty. If trade stabilizes in this level, then it can go up to 5600. But if Nifty break that important 5390 level, then market may slip again to 5300.
So observe this level carefully and make a decision.
But I think the chances for breaking that support is less because the FIIs are on the buying side in the previous week. This is a positive note for the market.
But the rate hike of RBI may affect the long term growth of economy also the Q1 results. So the investments of FIIs in the coming week will be mainly depend on these factors.
Q1 results of Sun TV, DLF, Powergrid Corporation, Bharti Airtel, Ranbaxy, Cipla etc will be announced this week. This also will be crucial for the market. So observe the Q1 results, watch the 5390 level of Nifty and make an intelligent decision.
This will be the perfect entry level and immediate resistances for the following stocks in the coming week.
Regards Hari " लोका समस्ता सुखिनो भवन्तु "
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